Yesterday I was hanging out in Boston with my friends who are senior scientists at biotech startups in Cambridge. They're both normies and from poor families who don't know how to manage money ect. For those who don't know Boston/Cambridge is a massive US biotech hub, specifically for mRNA research and novel therapies. Both friends were chimping out, shouting, and massively emotional because the trump administration has been horrendous for biotech. Mass layoffs, stocks crashing, funding is tough with high rates (not necessarily Trump's fault) and tariffs are wreaking havoc. More importantly the health views of the administration are really bad for those studying mRNA or performing clinical trials.
Politics aside, I asked them if they thought now was a good item to scoop up cheap biotech stocks since they had fallen so hard and administrations come and go. They had showed me a few companies that had crashed hard - and mentioned that the entire sector's equities were in a slump. When I asked this question they immediately and emotionally reacted that the industry was fucked and I would certainly lose money.
While these are my friends, they suck at finance - and have poor emotional control of money. I've seen them make so many bad investments. Despite having done post-doc research at Harvard and working in Biotech, they both have lost a lot of money trying to pick biotech stocks based on their specialized knowledge, and dramatically failed. I think they're reaction was a very "blood in the street" normie knee-jerk reaction and a bell weather that maybe the bottom is in, or at least close. I'm wondering if that means it really is a good time to load up on a biotech fund or something and scoop it up cheap.
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